16. Shinhan Corp. agreed and authorized Jones Company, a customer, a return of $1,000 of goods sold on account. ShinhanCorp. records sales returns (and allowances) as a contra account to sales revenue. Which is the correct journal entry to record this transaction?

a.	Sales returns and allowances $1,000 Accounts receivable $1,000

b.

Sales revenue $1,000 Accounts receivable $1,000

c.

Sales returns and allowances $1,000 Inventory $1,000

d.

Account receivable $1,000 Sales returns and allowances $1,000